By Neetha Mahadevan

FRANKFURT--K+S AG said on Friday it received an unsolicited letter again from Canadian rival Potash Corp. of Saskatchewan Inc. to take over the German salt and fertilizer company for 41 euros ($45) per share, unchanged from last time it made the proposal.

The deal would value K+S at about EUR7.9 billion.

Potash proposed a business combination agreement along with the offer price.

K+S had previously rejected the takeover approach saying the proposal undervalued its products and projects and could compromise jobs and strategy. It doesn't reflect "the fundamental value of K+S," it had then said.

Both companies mine potash, a fertilizer, and a tie-up would create a giant that could control as much as 30% of the global market.

Write to Neetha Mahadevan at neetha.mahadevan@wsj.com

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